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☆ Postpandemic Hangover Spreads to New Group of Healthcare Companies
▼ + stars: | 2023-05-10 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Companies like Thermo Fisher reported outsize growth during the Covid-19 pandemic. Photo: yves herman/ReutersFor drug companies, Covid-19 brought financial gains that were unevenly distributed, with Pfizer making over $50 billion from pandemic-related products last year even as other pharma companies saw more modest sales boosts. By contrast, the pandemic wealth was more evenly spread for “picks-and-shovels” businesses that supply big pharma companies with products needed to manufacture drugs and vaccines.

☆ Pharma Suppliers Are Nursing a Postpandemic Hangover
▼ + stars: | 2023-05-09 | by ( David Wainer | ) www.wsj.com time to read: 1 min

But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth. The average transaction value by Chinese travellers in Europe in March was 28% above 2019 levels, UBS said, citing data from VAT refund provider Planet. Cartier-owner Richemont (CFR.S), Hermes (HRMS.PA) and LVMH were best placed to benefit from wealthy Chinese shoppers, UBS added. As wealthy Chinese return to Europe and other foreign destinations, the appeal of China's Hainan Island, a duty free shopping hotspot, appears to be waning among top luxury spenders. China's "higher income, top luxury spenders (are) already travelling abroad again," she said, leading to an observable lower per-capita spend in Hainan.

☆ European banks surge on strong Q1 results from U.S. peers
▼ + stars: | 2023-04-14 | by ( Joice Alves | ) www.reuters.com time to read: +1 min

[1/3] The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves HermanLONDON, April 14 (Reuters) - European banks surged on Friday, rising to a one-month high, gaining support from U.S. lenders, which reported better-than-expected results in the first quarter. The STOXX 600 index of European banks (.SX7P) gained as much as 3% to reach its highest since mid-March after JPMorgan (JPM.N), Citigroup (C.N) and Wells Fargo WFC.N beat estimates. Banks largely outperformed the broader market, with the STOXX 600 (.STOXX) index climbing 0.6% as risk assets gained support from expectations the U.S. Federal Reserve may soon finish raising interest rates. In London, Standard Chartered (STAN.L) shares rose 4.3% to three-week highs, Barclays (BARC.L) shares were up 3%, touching a five-week high, while HSBC (HSBA.L) shares up 3.1% to one month highs.

The Black Sea and its Ukrainian coast have been crucial theatres of war since Russia's invasion of Ukraine last year. "The Black Sea is instrumental for making the whole of Europe peaceful and future-oriented," Kuleba, speaking via video link, told a Black Sea security conference in the Romanian capital Bucharest. It's time to turn the Black Sea into what the Baltic Sea has become, a sea of NATO." The remarks were brushed aside in Moscow, where Kremlin spokesman Dmitry Peskov told a briefing: "The Black Sea can never be a NATO sea." Romanian Foreign Minister Bogdan Aurescu said a strong NATO foothold in the Black Sea going forward was a "must."

☆ On the streets of France as protesters clash with police over pension reform
▼ + stars: | 2023-03-29 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

People walk past burning garbage bins near the Opera Garnier on the day the National Assembly debates and votes on two motions of no-confidence against the French government, tabled by centrist group Liot and far-right Rassemblement National party,...morePeople walk past burning garbage bins near the Opera Garnier on the day the National Assembly debates and votes on two motions of no-confidence against the French government, tabled by centrist group Liot and far-right Rassemblement National party, for its use of article 49.3, a special clause in the French Constitution, to push the pensions reform bill through the National Assembly without a vote by lawmakers, in Paris, France, March 20. REUTERS/Yves HermanClose

☆ French police clash with protesters opposed to farm reservoir
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Yves HermanSAINTE-SOLINE, France, March 25 (Reuters) - Police in western France clashed with protesters on Saturday opposed to the creation of a large water reservoir for farm irrigation. Thousands of protesters converged on the site of the planned reservoir in the rural district of Sainte-Soline, where a similar protest last October resulted in injuries. Police fired tear gas to repel some protesters who threw fireworks and other projectiles as they crossed fields to approach the fenced-off construction area. Supporters say artificial reservoirs are a way to use water efficiently when needed, while critics argue they are outsized and favour large farms. Reporting by Yves Herman and Marco Trujillo; Writing by Gus Trompiz; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ France pension reform protests turn violent following national day of action
▼ + stars: | 2023-03-23 | by ( Aurore Laborie Dalal Mawad Oliver Briscoe Allegra Goodwin Pierre Bairin Helen Regan | Aurore Laborie | Dalal Mawad | ) edition.cnn.com time to read: +4 min

Paris CNN —More than a million people took to the streets across France on Thursday with protests turning violent in some areas as demonstrators voiced their fury at proposed pension reforms. At least 80 people were arrested and 123 police officers injured in France on Thursday during the nationwide protests, French Interior Minister Gerald Darmanin said. The gate of the Bordeaux city hall after it was set on fire during a demonstration on a national day of action, on March 23 in Bordeaux, southwestern France. French riot police apprehend a protester amid clashes during a demonstration against pension reform in Paris on March 23, 2023. It rammed the legislation through the French National Assembly last week using a constitutional clause that allows the government to bypass a vote.

☆ French protests continue as Macron survives no confidence vote
▼ + stars: | 2023-03-21 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

A person walks past a fire lit during a demonstration in Paris, France, on March 20, 2023, the day the National Assembly debated and voted on two motions of no-confidence against the French government, tabled by centrist group Liot and far-right...moreA person walks past a fire lit during a demonstration in Paris, France, on March 20, 2023, the day the National Assembly debated and voted on two motions of no-confidence against the French government, tabled by centrist group Liot and far-right Rassemblement National party. The motions regarded the government's use of article 49.3, a special clause in the French Constitution, to push a pensions reform bill through the National Assembly without a vote by lawmakers. REUTERS/Yves HermanClose

☆ Meta plans to cut thousands of jobs as soon as this week - Bloomberg News
▼ + stars: | 2023-03-07 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo(Reuters) -Meta Platforms Inc will cut thousands of jobs as soon as this week in a fresh round of layoffs, Bloomberg News reported on Monday, only a few months after the Facebook-parent reduced more than 11,000 people from its workforce. Meta declined to comment on the Bloomberg report when contacted by Reuters. Last month, the Washington Post newspaper had reported that Meta was planning to cut jobs in a reorganization and downsizing effort. Other tech companies, including Google-parent Alphabet Inc and Microsoft Corp, have also cut thousands of jobs.

☆ EU silence over Pfizer COVID contract talks is problem that won't go away -watchdog
▼ + stars: | 2023-03-01 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

[1/2] The European Ombudsman Emily O'Reilly speaks during an interview with Reuters in Brussels, Belgium February 28, 2023. The Commission said in June 2022 that it no longer had the texts, which later drew criticism from the EU ombudsman. O’Reilly argued many people would understand why von der Leyen approached Bourla to plead Europe’s case for vaccines, as tens of thousands of people on the continent were dying from COVID-19. It has proposed to other EU institutions that they do the same, the spokesperson added. In February, the New York Times said it was suing the Commission over failure to release the text messages.

☆ Nokia phone maker HMD to set up production in Europe
▼ + stars: | 2023-02-25 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

BARCELONA (Reuters) - HMD Global Oy, licensee of Nokia-brand smartphones, said on Saturday it is developing capabilities and processes this year to bring 5G device production to Europe. REUTERS/Yves Herman/File PhotoEurope has no big smartphone manufacturing presence, as all the major companies, including Apple and Samsung, make their phones in Asia to cut costs. HMD in 2016 signed an exclusive 10-year licensing agreement with Nokia Oyj, once the world’s largest phone maker, to make Nokia-branded smartphones and tablets. HMD used Nokia’s remaining phone patents and manufacturing facilities of Taiwan’s Foxconn to build a new line of smartphones to compete with other budget Android phone makers. The company also unveiled three smartphones on Saturday - the Nokia G22, Nokia C32 and Nokia C22 - with three-day battery life and said it would begin repairing mobiles in collaboration with repair firm iFixit.

☆ ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves HermanFeb 18 (Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) has urged Apple Inc's (AAPL.O) investors to vote for its director nominees and the pay packages for top executives, including Chief Executive Tim Cook. "Continued monitoring of the pay program is warranted to ensure that pay magnitude is supported by continued strong performance by the company," ISS said in a note. The proposed amendment to the proxy access right would enhance the company's existing right for shareholders while maintaining safeguards on the nomination process, the note added. During last year's annual meeting, Apple shareholders had voted down a proposal requesting that the company report on its gender and racial pay gaps, with 66.4% of votes cast against it.

☆ Italy bristles over Zelenskiy dinner snub in Paris
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +3 min

[1/2] Italy's Prime Minister Giorgia Meloni speaks to the media as she attends the European leaders summit in Brussels, Belgium February 9, 2023. REUTERS/Yves HermanBRUSSELS, Feb 9 (Reuters) - Italian Prime Minister Giorgia Meloni criticised France and Germany on Thursday after she was not invited to a dinner in Paris with Ukrainian President Volodymyr Zelenskiy, adding to friction between the European Union allies. French President Emmanuel Macron and German Chancellor Olaf Scholz met Zelenskiy on Wednesday evening ahead of an EU summit on Thursday. But unlike last year, when the then-Italian Prime Minister Mario Draghi worked hand-in-hand with Macron and Scholz on Ukraine, Meloni was left out in the cold. However, things were different when Draghi, a former president of the European Central Bank, was prime minister.

☆ Lithuania may tax windfall bank profits, boost defence spending
▼ + stars: | 2023-02-06 | by ( Andrius Sytas | ) www.reuters.com time to read: +2 min

[1/2] Czech Finance Minister Zbynek Stanjura speaks with Lithuania's Finance Minister Gintare Skaiste at the European Union finance ministers meeting in Brussels, Belgium, July 12, 2022. "This is a critical situation, we are in an environment of high rates, so unexpected profits are appearing," central bank Governor Gediminas Simkus told a news conference. "The war in Ukraine and countries' reactions to it led to the high liquidity and high rates. The invasion also leads to more defence spending, so if we tax the windfall, the income would be used for defence", Skaiste told reporters. The neighbour of Russia had so far budgeted 2023 defence spending at 1.8 billion euros ($1.9 billion), or 2.52% of its gross domestic product.

☆ Morning Bid: Runaway Tech arrested
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +5 min

The coast may be clearing on interest rates but a spluttering economy still has the power to check runaway stock markets. Friday's release of January's U.S. employment report will provide some clues - but Big Tech gave its own readout on Thursday. Apple earnings fell short of expectations and it forecast revenue would fall for a second quarter in a row. But even though iPhone sales fell for the first time since 2020, it said sales were likely to improve as production had returned to normal in China after COVID-related shutdowns. To what extent layoffs in the tech sector are fanning out across the economy will be monitored in the payrolls report later and the Fed will be watching wage growth like a hawk.

☆ Belgian arms trader tangles with minister over tanks for Ukraine
▼ + stars: | 2023-02-01 | by ( Andrew Gray | ) www.reuters.com time to read: +6 min

REUTERS/Yves HermanTOURNAI, Belgium, Feb 1 (Reuters) - Freddy Versluys does not like to be called an arms dealer. Tanks sold for 10-15,000 euros each are being offered for sale at 500,000 euros, despite not being operational, she has said. That would mean a unit price of 40,000 euros for 50 tanks, or some 60,600 euros for 33. The Leopard 1 is the predecessor of the Leopard 2 tanks that Germany, Poland, Finland and other countries agreed last month to send to Ukraine. He worked as an engineer in the Belgian military before going into business.

Rooted in the Middle Ages, the Binche carnival, a UNESCO World Heritage event, is one of Europe's oldest surviving street carnivals and the biggest in Belgium. The costumes include ostrich-feather hats, wooden clogs, bells and wax masks, elements which the Kersten family have been designing and making for five generations. "This year, we are celebrating the 120th anniversary of the start of the 'Gilles de Binche' costumes production", said 57-year-old Fanny Kersten, who has been making costumes with her father for 33 years. The Binche carnival's cancellation in 2021 and 2022 due to the COVID-19 pandemic was a "black hole" for the business, Kersten said, adding "we couldn't even imagine a future for the carnival." It was the first time the carnival was cancelled since World War Two, significantly reducing costume makers' income from renting out their pieces.

☆ Thousands protest in Brussels demanding release of Belgian aid worker in Iran
▼ + stars: | 2023-01-22 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

[1/6] People hold pictures of Belgian aid worker Olivier Vandecasteele during a protest against his detention in Iran, as he was sentenced to 40 years in prison and 74 lashes on charges including spying, in Brussels, Belgium January 22, 2023. REUTERS/Yves HermanBRUSSELS, Jan 22 (Reuters) - Thousands of people took to the streets of Brussels on Sunday to protest against the detention in Iran of Belgian aid worker Olivier Vandecasteele, who was sentenced to 40 years in prison on charges including spying. "His life is in danger, contribute to his freedom," "#Free Olivier Vandecasteele," read banners held by protesters who included Vandecasteele's family, friends and colleagues. Belgium's constitutional court will next month hold a hearing on the legality of a Belgian prisoner exchange treaty with Iran. Reporting by Marine Strauss @StraussMarine, Clement Rossignol Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

[1/5] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) are expected to report the biggest declines. Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters.

☆ French privacy watchdog fines Apple over personalised ads
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. It added that the case, which dates back to 2021, concerned an old version of the phone's iOS operating software. Apple said after the announcement it was "disappointed with this decision" and that it would file an appeal. "Apple Search Ads goes further than any other digital advertising platform we are aware of by providing users with a clear choice as to whether or not they would like personalized ads", the company said. Apple's privacy updates, called App Tracking Transparency, give users the option to block apps from tracking activity across apps and websites owned by other companies.

☆ Human hair recycled in Belgium to protect the environment
▼ + stars: | 2022-12-28 | by ( Jakob Van Calster | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 28 (Reuters) - Coiffeurs across Belgium are sweeping up and bagging hair clipped from their customers, and then handing it over to an NGO that recycles it to protect the environment. The Hair Recycle project feeds locks and tresses into a machine that turns them into matted squares that can be used to absorb oil and other hydrocarbons polluting the environment, or made into bio-composite bags. [1/5] Patrick Janssen, co-founder of the organisation Dung Dung, shows a tile made from recycled human hair that is used to absorb polluting chemical substances in water, in Waremme, Belgium December 8, 2022. Isabelle Voulkidis, manager of the Helyode salon in Brussels, is one of dozens of hairdresser across the country that pay a small fee to the project to collect their hair cuttings. Additional reporting by Clement Rossignol; Writing by John Chalmers; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Expensive energy cuts short free visits to Belgium's 'Garden of Santa Claus'
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

[1/5] A man dressed as Santa Claus (Father Christmas) and Serge Hennebel, nicknamed "Elf Serge", perform at a Christmas village adorned with thousands of lights, in La Bruyere, Beauvechain, Belgium, December 20, 2022. The work of a Belgian aeronautical engineer, Serge Hennebel, 54, the "Garden of Santa Claus" is a seasonal entertainment venue located in a small village of La Bruyere, in central Belgium, 38 km (24 miles) south-east of Brussels. Lit by more than 52,800 lights, it attracts visitors from across the world who can enjoy a walk in the village, crossing the path of a giant snowman and taking souvenir photos next to Santa's sleigh and Santa's Train. Energy prices in the euro zone were 35% higher in November than 12 months earlier, boosting the costs of powering the venue and forcing the earlier closure, Hennebel said. Reporting by Yves Herman, writing by Jan Strupczewski, editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Belgian social media star uses power of visuals to demystify disability
▼ + stars: | 2022-12-19 | by ( Yves Herman | ) www.reuters.com time to read: +2 min

loading"Thanks to the era of social media, we can exploit the power of images," Talbi told Reuters from her home in Belgium's capital, Brussels. In recent years she has emerged as an influential champion of the disabled, meeting politicians, attending conferences and creating social media content to promote understanding, demystify disability and squash taboos. She now has about half a million followers on social media channels. "Often we are treated like children," she told a European Day of Persons with Disabilities conference in Brussels last month, where she explained that many people post unpleasant comments and even mock her disability on social media. "I realised that these limits didn't exist in reality, that they were all in the mind."

☆ EU leaders head for tussle over rescue plans for industry
▼ + stars: | 2022-12-15 | by ( John Chalmers | ) www.reuters.com time to read: +3 min

EU Commission President Ursula von der Leyen proposed ahead of the summit to loosen state aid rules in renewable energy and clean-tech to shield European industry. "Some governments have deep pockets and extensive possibilities to support their industry through national schemes, others have not," said one senior EU diplomat. "We don't want a national subsidy race among member states ... but there have to be carefully drafted limits." This has been held up by disagreement over whether or how to offer exemptions for an EU ban on Russia fertiliser exports. A draft of the summit conclusions said leaders would call for more gas deals urgently to replace Russian fuel, including through joint gas buying among EU countries.

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